REGISTERED NUMBER: |
Mark Garrick Ltd. |
Financial Statements For The Year Ended 31 October 2022 |
REGISTERED NUMBER: |
Mark Garrick Ltd. |
Financial Statements For The Year Ended 31 October 2022 |
Mark Garrick Ltd. (Registered number: SC250038) |
Contents of the Financial Statements |
For The Year Ended 31 October 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Mark Garrick Ltd. |
Company Information |
For The Year Ended 31 October 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
4 North Guildry Street |
Elgin |
Moray |
IV30 1JR |
BANKERS: |
161 Mid Street |
Keith |
Moray |
AB55 5BL |
Mark Garrick Ltd. (Registered number: SC250038) |
Balance Sheet |
31 October 2022 |
31.10.22 | 31.10.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Mark Garrick Ltd. (Registered number: SC250038) |
Balance Sheet - continued |
31 October 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Mark Garrick Ltd. (Registered number: SC250038) |
Notes to the Financial Statements |
For The Year Ended 31 October 2022 |
1. | STATUTORY INFORMATION |
Mark Garrick Ltd. is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Acquired goodwill was written off in equal annual instalments over its estimated useful economical life of 5 years as assessed by the director. It is now amortised in full. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Land and buildings | - |
Equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Mark Garrick Ltd. (Registered number: SC250038) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2022 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 November 2021 |
and 31 October 2022 |
AMORTISATION |
At 1 November 2021 |
and 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
5. | TANGIBLE FIXED ASSETS |
Land and |
buildings | Equipment | Totals |
£ | £ | £ |
COST |
At 1 November 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
Mark Garrick Ltd. (Registered number: SC250038) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Bank loans |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.10.22 | 31.10.21 |
£ | £ |
Hire purchase contracts | 247,370 | 180,569 |
10. | PROVISIONS FOR LIABILITIES |
31.10.22 | 31.10.21 |
£ | £ |
Deferred tax | 116,421 | 62,715 |
Deferred |
tax |
£ |
Balance at 1 November 2021 |
Provided during year |
Balance at 31 October 2022 |
Mark Garrick Ltd. (Registered number: SC250038) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2022 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.22 | 31.10.21 |
value: | £ | £ |
Ordinary | 1 | 2 | 2 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1 November 2021 |
Profit for the year |
Dividends | ( |
) |
At 31 October 2022 |
13. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £60,000 were paid to the directors . |
As at 1 November 2021 the company owed the directors £140,919. During the year the company met expenditure amounting to £33,637 and the directors loaned the company £60,000. As at 31 October 2022 the company owed the directors £167,282. This loan is interest free and has no fixed terms of repayment. |